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Price comparison site launches buy-to-let tool

GoCompare has launched a new tool to help determine where you should invest your money for the best capital growth and rental returns.

The platform allows investors to compare UK cities on a number of factors, including property prices, rental yields, rental growth, population under 35, the number of properties available, and the number of letting and maintenance agencies.

The latest data from price comparison website shows that Manchester saw the fastest rental growth, with prices rising by 5.76% over the past 12 months, followed by Leicester and Cardiff, with rental prices increasing by 5.3% and 5% respectively.

Stoke-on-Trent was identified as the least expensive area to currently buy property, with an average property price of £106,000.

In terms of rental yields, Manchester will continue to appeal to buy-to-let investors, with GoCompare figures showing an average yield in the city of 5.5%.

Rental yields are also impressive in Sunderland and Liverpool, at 5.37% and 5.05% respectively.

Separate data from TotallyMoney support GoCompare’s findings, with Liverpool, Manchester, Middlesborough, Newcastle and Edinburgh proving to be the top performing regions in terms of rental yields, according to the credit eligibility and comparison specialists.

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